Founder, Jones Myers
4:42 AM 15th January 2020
Making A New Year Resolutions List? Here’s What Not To Miss
This month many people will set themselves a series of goals for 2020 to improve their lives for the better and keep them motivated for the year ahead.
2020 goals. Image by Gerd Altmann
The most common resolutions include joining a gym, going on a diet, quitting smoking, looking for a new job and spending more time with family and friends.
We would also urge engaged couples to consider adding a pre-nup to their list - particularly as disagreements about money are one of the major causes of bitterness, uncertainty, anxiety and cost arising from marital breakdown.
The increasing recognition of their value reflects how couples view their open and transparent nature as a positive factor when planning their wedding.
It also demonstrates that, while seeking to protect inherited or family money, couples want to do ‘the right thing’ by each other and by any children.
As well as helping to ensure finances, house and other assets are shared fairly on divorce, pre-nups can also protect inherited wealth or savings built up before marriage.
The contracts are likewise becoming more popular with those marrying for a second time, enabling them to preserve certain assets for their children from previous relationships and ensure that children from their second marriage will be treated fairly if the relationship ends.
Situations where such contracts run into problems include when judges think they have been signed in haste and under pressure. They will want to know that the partner with the most to lose understood the agreement, was not under duress when they signed it, and took independent legal advice. Courts may ignore or vary pre-nups drawn up in haste.
We always advise that the agreement is signed at least 21 days before the wedding, making full financial disclosure and securing good legal advice.
If respected family lawyers help draw up the agreement, judges can be confident that both parties understood it fully and were not rushed into it.